Thanks for the insight! I did keep copies of everything and took photos of the completed forms before mailing them. About the address - that's actually a concern. I might be moving to a different apartment in August. Should I submit a change of address form with the IRS now, or wait until closer to my move date?

I recommend waiting until about 2-3 weeks before your move to submit Form 8822 (Change of Address) to the IRS. If you do it too early, they might start sending mail to your new address before you're there. Make sure you also submit a change of address with USPS, as they can forward your mail for up to 12 months. This gives you double protection against missing important IRS notices. And don't forget to update your address with your school's international student office as well, since they handle your tax documentation for visa purposes.

Not all states have income tax though. And for nonresident aliens, state tax filing requirements vary widely depending on which state they live in. Some states don't require nonresidents on F-1 visas to file at all if their only income is from a qualified scholarship.

I had no idea banks could do that! Is this something most banks offer or only certain ones? And do you just call them up and ask for it?

Not all banks offer this service, but many of the larger online banks do. Ally, Capital One, and Marcus by Goldman Sachs definitely have this option. Some traditional banks offer it too, but you often have to specifically ask for it. You typically need to fill out a W-9 form with your tax withholding preferences. Some banks let you do this online through your account settings, while others require you to call customer service or submit a form. It's worth checking your bank's website under "tax information" or calling them directly to ask about "federal tax withholding on interest income.

Can confirm this works. I had a similar situation with unexpected 1099 income and got hit with a $400 penalty. Called the IRS, politely asked about the First Time Abatement policy, and they removed it completely. Definitely worth trying!

Exactly! Many people don't realize the IRS has this policy. You can request it by phone, through a letter, or your tax professional can request it for you. Just make sure you specifically mention "First Time Penalty Abatement" when you ask. They won't automatically offer it even if you qualify!

Can you use a Solo 401k if you already have a 401k through your full-time employer but also have a side business? I've been wanting to shelter more of my side income from taxes.

Yes, you can have both a 401k through your employer and a Solo 401k for your side business. The $23,000 employee contribution limit applies across ALL of your 401k accounts combined. So if you've already maxed out your employer 401k, you can't make additional employee contributions to your Solo 401k. However - and this is the great part - you can still make the employer contribution to your Solo 401k, which is up to 25% of your business net income. This is completely separate from anything happening in your day job's 401k. Just make sure your side business is legitimate with actual income, not just a hobby.

Defined Benefit Plans can be amazing for high-income self-employed professionals like yourself. They allow contributions well beyond 401k limits - potentially $300k+ annually depending on your age, income, and years until retirement.

Do you need to keep actual logs? I thought the apps tracked your miles automatically?

You definitely need your own logs or a dedicated mileage tracking app. While Uber and Lyft do track some miles, they only count miles when you have a passenger in the car, not all your business miles. The IRS allows you to deduct ALL business miles, including miles driven while waiting for a ride request and miles driving to pick up passengers. Those additional miles can easily double your deduction, but the rideshare apps won't track them for tax purposes.

Legally, you're required to report ALL income regardless of amount or whether there's a 1099. While it's true the IRS might not immediately know about that specific $400, tax evasion is never worth the risk. The rideshare companies keep records of all payments, and the IRS can request those during an audit even without a 1099. Plus, if you're audited for any reason and they discover unreported income, you'll face penalties and interest that will cost far more than any tax you might save by not reporting it. Always better to stay on the right side of tax law!

This is so important! The tax prep companies are super sneaky about this. They advertise "free" filing everywhere but then hit you with fees at the very end. I almost fell for this too until someone told me about going through the IRS site directly. Does anyone know if there's an income limit for the Free File options? And does unemployment income count toward that limit?

The income limit for most IRS Free File options is $73,000 in Adjusted Gross Income (AGI). And yes, unemployment benefits do count toward that limit since they're considered taxable income. However, even if your income is above that threshold, the IRS still offers Free Fillable Forms which are electronic versions of paper forms - though they provide no guidance, so they're best if you're comfortable doing taxes yourself. Also worth noting that some Free File providers have lower income limits or age restrictions, so you need to check each one's specific requirements through the IRS portal to find your best option.

I used Cash App Taxes this year and it was surprisingly good for being completely free! It handled my unemployment and some freelance work without issues. The interface isn't as polished as TurboTax, but it asks all the same questions and I got the same refund amount when I compared them. Only downside is that it doesn't import as many forms directly - I had to manually enter some information. But for literally saving $100+ compared to TurboTax, I can spend an extra 15 minutes typing.

Thanks for the feedback! That's really helpful - I don't mind spending a little extra time if it saves that much money. As long as it handles everything correctly, that's my main concern. Did you have any issues with state filing? That's where I usually run into problems.